FOR SALE WITH VACANT POSSESSION Shop and Upper Parts 88 Notting Hill Gate London W11 3HP
glhearn.com FOR SALE WITH VACANT POSSESSION Shop and Upper Parts 88 Notting Hill Gate, London, W11 3HP
Notting Hill Gate LOCATION SITUATION Notting Hill is located approximately 2 miles west of The property is situated on Notting Hill Gate, the The property is highly prominent, located on the Notting Hill Gate Central London in the Royal Borough of Kensington primary thoroughfare in Notting Hill, running from north side of Notting Hill Gate, close to the entrance and Chelsea, bordered by Maida Vale to the north, East to West. The local area is currently undergoing to the Underground station and the junction with Bayswater to the east, Kensington to the south and significant development, notably opposite with Pembridge Road, thus benefitting from extremely Holland Park to the west. Notting Hill is famous for Frogmore’s development of their Notting Hill Gate high footfall. Other occupiers in the immediate area its Portobello Road street market and annual street Estate. include Foxtons, Le Pain Quotidien, Paul, Boots, and carnival. a host of independent vintage and retro shops.
Notting Hill Gate is well connected with access to the Central, District and Circle Underground lines, providing excellent connectivity with the West End and City of London, as well as London Paddington Station and Westfield Shopping Centre. The area benefits from numerous bus routes, whilst road links via the A40 and A4 run within 1 mile, linking Central London to the M40 and M4 motorways respectively.
Experian Goad Plan Created: 06/11/2018 Created By: G L Hearn
50 metres For more information on our products and services: Copyright and confidentiality Experian, 2017. © Crown copyright and database rights 2017. OS 100019885 www.experian.co.uk/goad | [email protected] Goad Plan | 0845 Created: 601 601 06/11/2011 8 Copyright and confidentiality Experian, 2017. © Crown copyright and Created By: G L Hearn database rights 2017.50 metre OS 10001988s 5 For more information on our products and services: Copyright and confidentiality Experian, 2017. © Crown copyright and glhearn.com www.experian.co.uk/goad | [email protected] | 0845 601 6011 database rights 2017. OS 100019885 2 FOR SALE WITH VACANT POSSESSION Shop and Upper Parts 88 Notting Hill Gate, London, W11 3HP
POPULATION DESCRIPTION ACCOMODATION The local area is densely populated and highly affluent 88 Notting Hill Gate comprises a traditional three The unit extends to the following approximate floor areas with 27,443 residents within a 10 minute walk of storey terraced building with a part pitched roof calculated in line with the Code of Measuring Practice, (6th ed) the subject premises, and 62,255 residents within arranged over basement, ground, first and second a 15 minute walk. Of this population, 52.08% are floors. Unit sq m sq ft categorised as being within the most affluent “AB” Ground Floor 96.24 1,036 social grades within the 10 minute walk time against The ground floor retail space benefits from a glazed Ground Floor (ITZA): 52.86 569 a national average of 22.17%. When considering a 15 frontage, and currently provides front of house shop/ First Floor: 91.41 984 minute walk time this figure remains extremely strong retail floor space with stairs to the rear. Second Floor: 44.60 480 with 48.13% of the population within the “AB” category (Experian). Basement 111.3 1,198 The first floor provides ancillary and office Total 343.55 3,698 accommodation, accessed via the stairs to the rear of the unit. Internally the space benefits from carpeted floors, part suspended ceilings with fluorescent lighting, air conditioning and windows to the front. ASSET MANAGEMENT There is a fire exit from the first floor into the common • Letting the ground floor retail space. parts of the flats at 2-4 Pembridge Road. • Conversion of first and second floors to residential uses (subject to planning*). The second floor is currently accessed via a trap- door hatch and ladder. The space currently houses • Combine with adjoining properties to form comprehensive plant and machinery for the building, both current redevelopment. and redundant, but benefits from full ceiling heights, * GL Hearn have not had any conversation with the local authority regarding the window openings to the front and an aspect to the rear. development potential of the building, nor with a planning consultant or architect. The basement currently provides ancillary storage in part, and unused storage rooms in the remainder, with a fire escape to a neighbouring property.
glhearn.com 3 FOR SALE WITH VACANT POSSESSION Shop and Upper Parts 88 Notting Hill Gate, London, W11 3HP
PLANNING A2/A1
RATES
Rateable Value: £81,000 Rates Payable: £39,993
Interested parties should verify these figures with the Local Authority.
ENERGY PERFORMANCE CERTIFICATE “C” – Full information on request
TENURE Freehold
VAT Not elected for VAT
LEGAL COSTS Each party is to be responsible for their own legal costs.
PROPOSAL We are instructed to seek unconditional offers in excess of £2,250,000 (Two Million Two Hundred Fifty Thousand Pounds) for the Freehold interest excluding standard purchaser’s costs of 6.33%, subject to contract and exclusive of VAT.
glhearn.com 4 VIEWING AND FURTHER INFORMATION By appointment through Sole Agents GL Hearn
Adam Hanline T +44 (0)20 7851 2157 E [email protected]
Ed Rohleder T +44 (0)20 3096 5962 E [email protected]
Important Notice 1. This information is intended as a general outline only for the guidance of intending purchasers and does not constitute an offer or contract, or part of an offer or contract. 2. All descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct. Intending purchasers should not, however, rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to their correctness. 3. No person in the employment of GL Hearn Ltd has any authority to make or give any representation or warranty whatsoever in relation to any of these properties. 4. Unless otherwise stated, prices or rents quoted are exclusive of VAT.
November 2018